Iran Petrochemicals Chief: Foreign Investors Interested, but Still Wary

Country must price competitively, build infrastructure and clarify investment law, official says.

Send in e-mailSend in e-mail
An Iranian security guard stands at the Maroun Petrochemical plant at the Imam Khomeini port, southwestern Iran, Sept. 28, 2011.
An Iranian security guard stands at the Maroun Petrochemical plant at the Imam Khomeini port, southwestern Iran, Sept. 28, 2011.Credit: AP

Foreign investors are interested in Iran's petrochemical sector but are still wary of putting their money down until the country takes a number of steps to ensure their investments, a top official told the Fars news agency.

The head of Iran's National Petrochemical Co., Abbas Sheri-Moqaddam, said the country must set competitive prices, build infrastructure and clarify the laws governing foreign investment before outsiders will invest.

Even if sanctions against the country were lifted, foreign investors would still want to see less risk in investing in the country, Sheri-Moqaddam told the Iranian news service.

The partial relief agreed to by six countries – the U.S., Britain, France, Russia, China and Germany – last November hasn't eased the pressure on the country's petrochemical industry, the executive said.

One problem is that the remaining sanctions impede transfers of funds into the country, he said.

For the year ended in mid-March 2014, Iran exported $9 billion of petrochemical products, including propane and butane. The country hopes to boost that by a third, to $12 billion, this year, Fars reported.

Click the alert icon to follow topics:



Automatic approval of subscriber comments.
From $1 for the first month

Already signed up? LOG IN


Charles Lindbergh addressing an America First Committee rally on October 3, 1941.

Ken Burns’ Brilliant ‘The U.S. and the Holocaust’ Has Only One Problem

The projected rise in sea level on a beach in Haifa over the next 30 years.

Facing Rapid Rise in Sea Levels, Israel Could Lose Large Parts of Its Coastline by 2050

Tal Dilian.

As Israel Reins in Its Cyberarms Industry, an Ex-intel Officer Is Building a New Empire

Queen Elizabeth II, King Charles III and a British synagogue.

How the Queen’s Death Changes British Jewry’s Most Distinctive Prayer

Newly appointed Israeli ambassador to Chile, Gil Artzyeli, poses for a group picture alongside Rabbi Yonatan Szewkis, Chilean deputy Helia Molina and Gerardo Gorodischer, during a religious ceremony in a synagogue in Vina del Mar, Chile last week.

Chile Community Leaders 'Horrified' by Treatment of Israeli Envoy

Queen Elizabeth attends a ceremony at Windsor Castle, in June 2021.

Over 120 Countries, but Never Israel: Queen Elizabeth II's Unofficial Boycott